Sally is 20 years ahead on her 30-year mortgage. So why is Bank of America about to foreclose on her?

Sally writes: “So, at the end of last year, Bank of America made steps to purchase Countrywide. Upon doing so, they began moving all of Countrywide’s loans over into their system. My home loan was transfered in December. I was a Nation’s bank customer. It was bought by Bank of America as well. I’ve let the account stay with them. It shows I’ve been a member since 95.

With my mortgage, I usually use the online payment option. Oddly, I found my mortage seemed to be listed under a different account than my bank. A phone call said they’d clear it up. I made my payment and thought nothing more of it. Come January, I logged in and found out the December payment had never been made for unspecified issues. Also, my January payment was now late because it would not let me make a payment on the site. But, I could see everything under the same account now. However, using my BoA account number (been the same for 15 years) did not get me access over the phone. I had to use the new mortgage one. I finally got to a human who said he’d remove the late charges, make the payments and all should be fine next month.

Now February is here. I’ve gotten a certified letter from BoA saying they are going to start foreclosure on my house on the 18th of this month because my loan is in default. Checking online, I see the payments were made but the late fee still applied to January. I still can’t pay online, it says to reference an error code 98. I call the number and speak to someone yet again. They say the foreclosure notice can be disregarded. Get my payment made and get transferred to IT to get the error code removed. Stay on hold. The IT department says Error Code 98 means the mortgage department lacks some key info and the error will only be removed when the mortgage department gets it.

Recap. I’ve spoken to the mortgage department 3 times in as many months. They’ve never informed me they are missing any info, only promised to set my account right. Which, they now say they can’t do. They say IT must do. IT says they can’t, the mortgage department must do it.

I’m getting dizzy from the run around. I’ve decided I’ll be mailing in any future payments – starting today. In the past, I’ve always added additional principal. In fact, I’m about 20 years ahead of paying off my 30 year loan. I’ve been planning on paying it off this year or the next. With the website errors, I’ve been unable to add extra principal. So, Bank of America is enjoying the extra interest they’ve been getting by keeping me unable to pay extra down on my house, plus the late fees they are trying to add. And of course, using their ineptitude to try and take the house itself within 3 months of buying the loan off Countrywide.

Needless to say, I’ll be putting my entire tax refund on the house and I’ll be working diligently to get my finances away from Bank of America as soon as possible.”

Sally has already found a solution to her problem: just mail in all her payments. It’ll a be a long time, if ever, before Bank of America fixes theirs.